Party over for former telecom execs
Five years after the drunken telecommunications spending craze ended, the industry is still cleaning up after the party. On Friday, the Wall Street Journal reported that the Securities and Exchange Commission plans to file civil charges against Joseph Nacchio, the former CEO of Qwest Communications, as early as next week.
It's little surprise that regulators would come after Nacchio, since it's no secret that he and several other Qwest executives have been under investigation for some time. The exact charges of the SEC case aren't yet known, but the SEC is expected to accuse Nacchio of falsely … Read more